[section_title title=Eli Engleman and David Cajigas]
5. Eli Engelman and Daniel Cajigas – Founders of iStockAlerts
College: Tulane University and Wharton School of Business at the University of Pennsylvania, respectively.
Year: Class of 2018
In 2013, Eli Engelman and Daniel Cajigas teamed up to create an audacious project: a mobile app that interacts with the stock market. Shortly after, on May 1st, 2014, the group launched iStockAlerts, an application that allows users to buy and sell stocks with direct advice provided on the interface. The application spurred immediate attention in the media, being featured on major news channels including on NBC and ABC.
What makes iStockAlerts different from other mobile applications that deal with the stock market is its accessibility of use. When interviewing them, the team indicated that “no stock market knowledge is needed to use iStockAlerts.” In many ways, the app plays the role of an interactive broker that is fed data by the application, advising users to buy or sell certain stocks. The app is also free to download now, which has prompted over 3,000 individuals to use it.
The focus of the application is to close the gap between the average investor and high-powered institutionalized investors. The team claims to have built a self-evolving algorithm that adapts to market trends and monitors shifts in High Frequency Trading. The algorithm thus automatically changes the status of each stock’s prospective value: Sell, Hold, and Buy. Users simply have to click on the stock to implement the advice provided, creating an extraordinarily simple process when it comes to trading.
iStockAlert’s Website: istockalerts.com